GSE lifts suspension on 2 firms

In a statement issued by the GSE, it said that the companies have rectified the anomalies associated with their operations on the local bourse.

The 5 were sanctioned for not complying with regulations of GSE.

The two companies whose suspension have been lifted are Clydestone (Ghana) Limited and Transaction Solutions (Ghana) Limited (TRANSOL).

Clydestone has, for instance, submitted the unaudited financial reports for 2016 to the GSE.

“Accordingly, the Exchange has lifted the suspension in trading of the shares of CLYD and TRANSOL that was imposed on the two companies with immediate effect.”

The other three companies are still facing suspension from the bourse.

They are African Champion Industry Limited (ACI), Pioneer Kitchenware Limited as well as Golden Web Limited.

The statement said, “these companies have failed to meet their continuing listing obligations in spite of several promptings to do so.”

These obligations include failure to submit financial reports, non-payment of annual listing fees and failure to conduct Annual General Meeting (AGM), among others.

The companies have been given up until September 8, 2017, to rectify their anomalies.

“Failure to do so will attract further sanctions as per the GSE Listing Rules,” the statement added.

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